Predefined talent acquisition strategy is your golden goose
There is this old saying “if you are failing to plan, you are planning to fail.” Yes predefining, or planning who should do what and when surely leads your strategy to success. Your talent acquisition strategy is your golden goose, it is important to care of it by organizing and determining the roles of each member involved. Having quality metrics about the workforce will help your company estimate the future hiring needs, perhaps according the skill or the growth needs and fill them accordingly.
Prepare to adapt, revise and change
For one thing the technology is ever changing in all aspects of business. In today, out tomorrow is the norm of the day. Now the question arises, how can you predefine your talent acquisition strategy when things are ever changing? When you cannot stop the change, preparing to adapt to the change will help your strategies to have a certain success.
An English business magnate, author, investor and philanthropist, who founded a group that controls 400 companies, said “every success story is a constant adaptation, revision and change. A company that stands still will soon be forgotten.” How true his words are with regard to preparing to adapt to the changing trends. The members of talent acquisition team might become too busy to notice the changing trends. It is important, once in a while to stop and look around to evaluate how far their strategy is from the latest trends in the market.
Take time to assess the current situation un-biasedly
It is important to assess the present situation without preconceptions because it will help you see clearly. To know the high and low periods, analyzing the demand at hand by monthly, quarterly and yearly periods will be helpful. Assessing whether the departure of an employee is regrettable or non-regrettable and relating it with the history will help you to improve your turnover.
Assessing the roles of the people and the tools they are using is another important aspect. You will need to breakdown their roles and the responsibilities they are handling. Also observe how many of the tools are being used and how much time is consumed in using those tools. Such assessment will help to plan your talent acquisition strategy effectively.
Figure out how much variation exists and how it is aligned. Assess what the variation is based on: individuals, managers, positions or groups. Also try to determine when the process of talent acquisition actually begins in your company. Is it when the role becomes vacant or when the requisition is approved or requested. This also requires that you define when it closes, is it when the background check is done, when accepted, or when the candidate starts his/her employment. These predefined metrics will help to plan the strategy.
Define the results on the basis of quality of the data and how the data is being measured. If you are able to determine the cost spent with the lost time to interview you will be able to define the future results.
Finding talent is not a one time job
Finding talent and retaining it is an ongoing process. Concentrate on the “quality of hire.” To this effect determine who will interview, when, how many rounds and how many would conduct these rounds. Planning these interviews also includes training the interviewers. Well defined talent acquisition strategy is worth all the hard work. It not only saves money and time but brings in the best candidates aboard, allowing your company to retain its brand name and stay ahead of its competitiors.
I am an Entrepreneur and Angel Investor. Board Member of TiE SoCal Angels Fund, and CEO @ Optizm Global, the executive search firm. We are a Right Fit Recruitment & Placement Agency.
I’m the Co-Founder of “StartupSteroid” the platform to connect founders with investors.
As an Angel Investor I look for Business Plan, Cashflow, Core Team, Board of Advisors, Secure IP, Quality Investors, Monetization Models, USP, Scalability, Strong Returns, Growth Market, and Board Role.